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Uchumi - A value play?
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VituVingiSana
#496 Posted : Friday, February 28, 2020 8:13:12 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
HaMaina wrote:
Ericsson wrote:
RIEK01 wrote:
Nairobi west franchise closed.

Let it Rest in Peace.
The company is tired


Uchumi’s agony as High Court sets repeat creditors vote.

-The troubled retailer is expected to stage a second creditors meeting on March 2 and an ultimate vote which will in principal determine the continuity of the 45 year old retailer.
It's time to call it a day and unplug it from the ventilator.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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FUNKY
#497 Posted : Wednesday, March 04, 2020 5:49:09 PM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
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FUNKY
#498 Posted : Wednesday, March 11, 2020 9:56:44 AM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
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HaMaina
#499 Posted : Monday, March 16, 2020 10:41:36 AM
Rank: Veteran

Joined: 4/23/2014
Posts: 931
Milk firm pursues Uchumi closure
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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KaunganaDoDo
#500 Posted : Monday, March 16, 2020 11:12:28 AM
Rank: Member

Joined: 8/6/2018
Posts: 299
HaMaina wrote:
Milk firm pursues Uchumi closure


Its old case that is just coming up for routine hearing, which will not be adjudicated on due to the development of CVA with creditors agreed in March 2020
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KaunganaDoDo
#501 Posted : Monday, July 06, 2020 2:41:00 PM
Rank: Member

Joined: 8/6/2018
Posts: 299
HaMaina wrote:
Milk firm pursues Uchumi closure



The retailer last week got a reprieve from the High Court, which marked an insolvency petition against Uchumi as settled and withdrawn following an out-of-court deal with suppliers.
Part of the court rulling, Uchumi is to receive 70% discount on the outstanding liability of Ksh 4.7B...Meaning Uchumi supermarket to pay Ksh 1.4 B in 6 months(30% of the liability) and the rest spread as preference shares and discounted.

Just coming at the right time when Tuskys is struggling and Shoprite and Choppies exiting Kenya
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chiaroscuro
#502 Posted : Monday, July 06, 2020 5:32:49 PM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Uchumi Supermarkets given 6 months to pay 4.7 billion.....

https://www.nation.co.ke...-pay-4-7-billion-1445522
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chiaroscuro
#503 Posted : Monday, July 06, 2020 5:34:16 PM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Na kuna watu bado wananunua hii kitu?
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Ericsson
#504 Posted : Monday, July 06, 2020 5:48:02 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
KaunganaDoDo wrote:
HaMaina wrote:
Milk firm pursues Uchumi closure



The retailer last week got a reprieve from the High Court, which marked an insolvency petition against Uchumi as settled and withdrawn following an out-of-court deal with suppliers.
Part of the court rulling, Uchumi is to receive 70% discount on the outstanding liability of Ksh 4.7B...Meaning Uchumi supermarket to pay Ksh 1.4 B in 6 months(30% of the liability) and the rest spread as preference shares and discounted.

Just coming at the right time when Tuskys is struggling and Shoprite and Choppies exiting Kenya


Quickmart will decimate it
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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KaunganaDoDo
#505 Posted : Monday, July 06, 2020 7:04:27 PM
Rank: Member

Joined: 8/6/2018
Posts: 299
[quote=chiaroscuro]Uchumi Supermarkets given 6 months to pay 4.7 billion.....

https://www.nation.co.ke...pay-4-7-billion-1445522[/quote]

Nation Newspaper also got it wrong. Its the 30%of the 4.7B.
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KaunganaDoDo
#506 Posted : Monday, July 06, 2020 7:08:02 PM
Rank: Member

Joined: 8/6/2018
Posts: 299
chiaroscuro wrote:
Na kuna watu bado wananunua hii kitu?


Ask yourself why its still trading... while Guys like Deacons,ARM,Mumias and KQ are all down? They have cleaned their balance sheet with this restructuring...Its now System Go... plus this restructuring was the condition precedent for New Foreign Equity Partners
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FUNKY
#507 Posted : Monday, July 06, 2020 7:36:46 PM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
Uchumi will bounce back...their branches have been buying fast moving goods on cash basis from suppliers p/s - I am one of the supplier
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Ericsson
#508 Posted : Monday, July 06, 2020 7:41:30 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
FUNKY wrote:
Uchumi will bounce back...their branches have been buying fast moving goods on cash basis from suppliers p/s - I am one of the supplier


The former customer of uchumi moved on
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#509 Posted : Monday, July 06, 2020 7:41:44 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,342
Location: Nairobi
KaunganaDoDo wrote:
chiaroscuro wrote:
Na kuna watu bado wananunua hii kitu?


Ask yourself why its still trading... while Guys like Deacons,ARM,Mumias and KQ are all down? They have cleaned their balance sheet with this restructuring...Its now System Go... plus this restructuring was the condition precedent for New Foreign Equity Partners

Government/Taxpayer bailout.
EAPCC and Mumias are other zombies. As was NBK. And KQ.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#510 Posted : Monday, July 06, 2020 8:03:16 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
KaunganaDoDo wrote:
chiaroscuro wrote:
Na kuna watu bado wananunua hii kitu?


Ask yourself why its still trading... while Guys like Deacons,ARM,Mumias and KQ are all down? They have cleaned their balance sheet with this restructuring...Its now System Go... plus this restructuring was the condition precedent for New Foreign Equity Partners

Government/Taxpayer bailout.
EAPCC and Mumias are other zombies. As was NBK. And KQ.


Treasury should allow EAPCC be swallowed by Bamburi cement
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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